Despite the imposition of tariffs by the US, the Canadian economy continues to show elasticity, with initial values showing a slight expansion last month. Canada's industry-based GDP grew 0.1% in November, and the index fell 0.3% in October, according to preliminary data released by Statistics Canada on Tuesday. This was driven by a contraction in the production of goods and services. The Bank of Canada kept the policy interest rate unchanged at 2.25% in December, saying that the Canadian economy is “generally resilient,” but warned of rising uncertainty. Bank of Canada Governor McClyme also hinted that the central bank will continue to keep interest rates unchanged in the near future, and that there will be no surprises.

Despite the imposition of tariffs by the US, the Canadian economy continues to show elasticity, with initial values showing a slight expansion last month. Canada's industry-based GDP grew 0.1% in November, and the index fell 0.3% in October, according to preliminary data released by Statistics Canada on Tuesday. This was driven by a contraction in the production of goods and services. The Bank of Canada kept the policy interest rate unchanged at 2.25% in December, saying that the Canadian economy is “generally resilient,” but warned of rising uncertainty. Bank of Canada Governor McClyme also hinted that the central bank will continue to keep interest rates unchanged in the near future, and that there will be no surprises.